https://www.miningweekly.com

BHP gearing up to start drilling for oil in Mexico's deep waters

3rd October 2017

By: Bloomberg

  

Font size: - +

MEXICO CITY – BHP Billiton is getting closer to drilling its first oil wells in Mexico’s deep waters.

The Australian mining giant, which last year won rights to partner with state-owned Pemex in the Gulf of Mexico’s Trion field, hopes to have a drilling rig contracted this year and to spud two wells in the second half of 2018, Steve Pastor, BHP’s petroleum president, said Monday in an interview in Mexico City.

Trion, which Pemex estimates to hold the equivalent of 485-million barrels of crude, could become one of the Gulf’s largest oil-producing areas, he said.

"There are four locations that we’ve identified already as having exploration potential," Pastor said. "It’s a big block that has a number of follow-on exploration opportunities across the rest of the block. Big fields tend to get bigger with time."

BHP is in talks with several international and Mexican contractors about providing the drilling rig and expects to announce a winner before the end of this year, he said.

The company has also qualified to bid in Mexico’s January 31 crude auction for 29 deep-water areas and a joint venture with Pemex at its Nobilis-Maximino field. BHP is looking "very closely" at the geologic formations in Nobilis-Maximino, Pastor said.

BHP also sees development opportunities in Mexico in the "minerals and mining sectors, particularly in terms of copper," Pastor said, adding that talks "are not all that advanced" at this stage.

The country is keeping an eye on Mexico’s 2018 presidential race and feels the country’s energy overhaul will proceed regardless of who is elected next June, Pastor said.

"The direction that Mexico is taking has been tremendously positive, and I hope it will continue,” he said. "I firmly believe that whoever wins will support the progression of the reform."

Edited by Creamer Media Reporter

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.112 1.172s - 88pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: